Calgary & Area Real Estate Market Overview
As we step into 2025, the real estate market across various regions continues to show resilience and dynamism. From Calgary to Airdrie, Cochrane, Okotoks, and beyond, January’s market statistics highlight significant trends in sales, pricing, and inventory levels. Here’s a comprehensive breakdown of the key insights from the latest data.
City of Calgary: A Strong Start to the Year
Calgary’s real estate market saw 1,451 sales in January 2025, marking a 12% year-over-year decrease. New listings reached 2,896, resulting in a sales-to-new-listings ratio of 50%. Despite the increase in listings, the market remains competitive, with inventory at 3,639 and a months-of-supply ratio of 2.51.
The benchmark price for Calgary homes stands at $583,000, a 2.8% year-over-year rise. The average price hit $605,026, while the median price settled at $572,500. These figures suggest steady demand and continued growth in home values.
Airdrie: Increasing Supply Supports Market Growth
Airdrie experienced a notable 7.7% rise in sales, with 112 homes sold. The market benefited from 222 new listings, contributing to an inventory of 295 homes and a months-of-supply ratio of 2.63.
The benchmark price in Airdrie climbed 3.6% year-over-year to $537,300. While price appreciation continues, the increase in new listings helped moderate the pace of growth, fostering a more balanced market.
Cochrane: Inventory Gains Bring Stability
Cochrane’s housing market maintained a seller’s advantage for most of 2024, though a surge in new listings by the year’s end brought a more balanced dynamic. January 2025 saw 71 sales and 104 new listings, leading to an inventory of 156 and a months-of-supply ratio of 2.20.
Despite more inventory, home prices remained strong, with the benchmark price rising 5.0% year-over-year to $565,900. The shift towards balanced conditions helped ease price pressures slightly but did not significantly curb long-term gains.
Okotoks: Tight Market Conditions Drive Price Growth
Okotoks recorded 31 sales in January 2025, a significant 62.6% increase from the previous year. New listings also rose by 27.9%, pushing inventory to 68 units. However, with a months-of-supply ratio of just 2.19, market conditions remain tight.
The benchmark price surged 4.9% year-over-year to $614,900, reflecting strong demand. Continued price appreciation has driven activity in semi-detached and row-style units, where price growth exceeded 11% annually.
Chestermere: High-End Market Sees Continued Strength
Chestermere’s real estate market remains robust, with 56 sales in January 2025, reflecting a 12% year-over-year increase. New listings climbed to 123, resulting in an inventory of 155 homes and a months-of-supply ratio of 2.77.
The benchmark price rose 5.2% year-over-year to $694,300. Chestermere’s higher-end market continues to perform well, supported by strong buyer demand and limited inventory.
Canmore: Luxury Market Holds Steady
Canmore remains a premier location for luxury real estate, with a benchmark price of $1,058,000—a 15.4% increase year-over-year. Sales totaled 26, while new listings hit 45, leading to an inventory of 123 homes. The months-of-supply ratio of 4.73 suggests a slower-moving but highly valued market.
Regional Market Trends and Takeaways
Across the broader region, several key trends emerged in January 2025:
Sales Growth: Most regions experienced year-over-year increases in sales, with Okotoks and Airdrie leading the pack.
Inventory Challenges: Despite some gains, inventory remains below long-term averages, keeping conditions favorable for sellers in many areas.
Steady Price Growth: Home prices continued to appreciate across all major regions, with the fastest growth occurring in more affordable and high-density housing segments.
Balanced Conditions Emerging: Some regions, like Cochrane and Airdrie, are seeing a shift towards more balanced market conditions, which may help moderate future price increases.
What’s Driving These Trends?
The real estate market’s performance can be attributed to several key factors:
Population Growth: Increasing migration to Alberta, particularly from other provinces, has kept demand for housing strong.
Economic Strength: A robust job market and stable economic conditions continue to support homebuying activity.
Interest Rates: While higher interest rates have impacted affordability, strong demand and low inventory levels have kept prices rising.
Shift in Buyer Preferences: The demand for higher-density and semi-detached housing has risen significantly, particularly in cities where affordability is a concern.
Looking Ahead: Predictions for 2025
As we move further into 2025, several potential developments could shape the market:
Interest Rate Adjustments: If interest rates decline, housing demand could rise further, intensifying competition.
Increased Inventory: More new listings could help ease price pressures, particularly in areas seeing increased supply.
Market Diversification: The growing demand for semi-detached and row housing suggests a shift in consumer preferences towards affordability and multi-family living.
Despite market challenges, such as affordability concerns and supply constraints, 2025 is shaping up to be another dynamic year in real estate. Staying informed and prepared will be key for both buyers and sellers navigating this evolving landscape.
The regional real estate market kicked off 2025 with strong momentum. While inventory levels remain below long-term averages, new listings are rising, and some markets are shifting towards balanced conditions. Price appreciation is expected to continue, though at a moderated pace, as more inventory enters the market.
For buyers, staying ahead of market trends and exploring alternative housing options—such as semi-detached homes—could provide better affordability. Sellers, meanwhile, can still benefit from current market conditions but should remain aware of shifting demand trends.
With continued economic strength and population growth fueling the market, 2025 is set to be another exciting year for real estate in Calgary and its surrounding regions. Whether you’re looking to buy, sell, or invest, keeping an eye on these trends will be essential in making informed decisions.
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